Bayer Ag Will Eliminate 1,500 Jobs To Cut Costs

On the record INTERNATIONAL

March 20, 1996

LEVERKUSEN, GERMANY — German chemicals conglomerate Bayer AG will cut 1,500 jobs this year as part of its cost-reducing restructuring program, the company chairman said Tuesday. The planned cuts represent about 1 percent of its worldwide work force. Earlier this month, Bayer reported a profit of $1.65 billion for 1995, up 20 percent from the previous year, on sales of $30.3 billion.

Thai Airways purchases 6 777-300s from Boeing

BANGKOK, Thailand

Thai Airways International said Tuesday it plans to buy six 777-300 airplanes from Boeing Co. for about $1 billion. The deal awaits approval from Thailand's cabinet and the airline's shareholders. The planes will be delivered by Seattle-based Boeing from August 1998 to November 2000.

NATIONAL

Capital of Vermont rejects site for its 1st McDonald's

MONTPELIER, Vt.

What makes Montpelier different from all other state capitals? It has no McDonald's restaurant. After months of debate, the Montpelier Planning Commission voted 4-3 Monday against granting a permit to allow McDonald's to open a restaurant inside a 19th-century building. The vote followed a public hearing in which residents discussed concerns about traffic problems. . . . A South African judge has barred a restaurant from using McDonald's label. Last year, McDonald's obtained a temporary order barring Dax Properties from using its name and golden arches for a Johannesburg restaurant called MacDonald's. The court ruled that the order would be permanent.

Cirrus Logic Inc. will cut 13% from its work force

FREMONT, Calif.

Chip maker Cirrus Logic Inc. Tuesday said it would cut about 455 jobs - 13 percent - from its work force and said it expects a ''substantial'' operating loss in the quarter ending this month. Cirrus said the loss, on lower revenue, would be on top of restructuring charges. Cirrus also said it would sharpen its focus on new products that it thinks will bring stronger revenue growth over the next 18 months. The company said its work force now numbers 3,500. Cirrus stock was down $1.125 to $18.675 a share Tuesday..

STATE

Florida losing ground in winter vegetables

Bad weather and increasing competition from Mexico have significantly reduced Florida's share of the U.S. market for fresh winter vegetables. The Agriculture Department's Economic Research Service sees the stiff competition continuing, especially with prospects that the value of the Mexican peso will decline further. As recently as the winter of 1991-92, Florida farmers produced 57 percent of the winter vegetables sold in the United States. A year ago, the share had dropped to 36 percent, and it could fall again this winter, the USDA says. Cold and rain delayed planting this year.